Author Question: In order to convert nominal gross domestic product (GDP) to real gross domestic product (GDP), we ... (Read 112 times)

james0929 · **on:** Jun 30, 2018

In order to convert nominal gross domestic product (GDP) to real gross domestic product (GDP), we must divide:
a. real GDP by the price index.
b. nominal GDP by the price index.
c. the price index by nominal GDP.
d. the price index by real GDP.
e. nominal GDP by 100.

Question 2

Supply-side economics emphasized government policies to:
a. restrict aggregate spending and boost aggregate supply.
b. increase minimum wage to improve labor productivity.
c. stimulate real GDP by improving incentives to work.
d. lower interest rates to boost saving.
e. increase government tax revenues in order to increase government purchases.